The Treasury and Department for Economic Development are consulting on proposed changes to the company law framework concerning treasury shares: see here (pdf). Amongst other things it is proposed to exercise the power provided by Section 58A of the Companies Act 2006 to permit companies incorporated under the 2006 Act to hold and deal with treasury shares. Changes are also proposed with regard to companies incorporated under earlier legislation. Draft legislation is available here.
Wednesday, 28 August 2013
Isle of Man: Treasury shares consultation
The Treasury and Department for Economic Development are consulting on proposed changes to the company law framework concerning treasury shares: see here (pdf). Amongst other things it is proposed to exercise the power provided by Section 58A of the Companies Act 2006 to permit companies incorporated under the 2006 Act to hold and deal with treasury shares. Changes are also proposed with regard to companies incorporated under earlier legislation. Draft legislation is available here.
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